Zenitas Healthcare completes Allied Care Group settlement

Company News

by Rachael Jones

Following the announcement on 17 September 2018, Zenitas Healthcare (ASX:ZNT) is pleased to announce that settlement of the acquisition of Allied Care Group has been completed.

The acquisition price was $2.25 million plus transaction costs for 100 per cent of Allied Care Group funded from existing debt facilities.

Allied Care Group achieved FY18 revenue of $2.8 million and EBITDA of $0.5 million.

Zenitas is a community-based healthcare operator providing integrated care solutions that are primarily aimed at reducing the reliance on high cost acute and post-acute institutional care.

Shares in Zenitas Healthcare (ASX:ZNT) closed 0.71 per cent higher to $1.415 yesterday.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.